Poland unexpectedly leaves key rates unchanged

WilliamL. Watts

FRANKFURT (MarketWatch) -- Poland's central bank left its key lending rate unchanged at 4.75% on Wednesday, defying expectations for a cut. Economists surveyed by Dow Jones Newswires had overwhelmingly expected a quarter-point cut to 4.5%. The Polish zloty strengthened in the wake of the announcement. The euro fetched 4.0857 zloty, down 0.6% from Tuesday, according to FactSet. The euro traded near 4.11 zloty ahead of the announcement. The central bank is scheduled to hold a news conference on the decision later Wednesday.

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